KLP Kapitalforvaltning AS Purchases Shares of 78,250 The Campbell Soup Company (NASDAQ:CPB)

KLP Kapitalforvaltning AS acquired a new position in The Campbell Soup Company (NASDAQ:CPB) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 78,250 shares of the company’s stock, valued at approximately $3,277,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. increased its position in shares of Campbell Soup by 1,593.8% in the third quarter. Franklin Resources Inc. now owns 1,904,440 shares of the company’s stock valued at $91,623,000 after acquiring an additional 1,792,005 shares during the period. Raymond James Trust N.A. grew its stake in shares of Campbell Soup by 43.8% in the third quarter. Raymond James Trust N.A. now owns 9,228 shares of the company’s stock worth $451,000 after purchasing an additional 2,809 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Campbell Soup by 161.8% during the 4th quarter. Handelsbanken Fonder AB now owns 186,277 shares of the company’s stock valued at $7,801,000 after purchasing an additional 115,122 shares during the period. ING Groep NV bought a new position in Campbell Soup during the 4th quarter valued at approximately $1,062,000. Finally, Hussman Strategic Advisors Inc. lifted its holdings in Campbell Soup by 133.3% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company’s stock worth $6,156,000 after buying an additional 84,000 shares during the period. Institutional investors own 52.35% of the company’s stock.

Insider Transactions at Campbell Soup

In other news, EVP Anthony Sanzio sold 2,000 shares of Campbell Soup stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $41.90, for a total value of $83,800.00. Following the completion of the sale, the executive vice president now directly owns 16,551 shares in the company, valued at $693,486.90. The trade was a 10.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 20.19% of the company’s stock.

Campbell Soup Price Performance

CPB opened at $39.14 on Thursday. The Campbell Soup Company has a 1 year low of $36.92 and a 1 year high of $52.81. The stock has a 50-day moving average price of $39.05 and a 200-day moving average price of $43.23. The firm has a market cap of $11.67 billion, a PE ratio of 21.39, a P/E/G ratio of 2.71 and a beta of 0.15. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.91 and a quick ratio of 0.50.

Campbell Soup (NASDAQ:CPB) last issued its earnings results on Wednesday, March 5th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.74 billion. Campbell Soup had a net margin of 5.57% and a return on equity of 23.79%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts predict that The Campbell Soup Company will post 3.15 earnings per share for the current fiscal year.

Campbell Soup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Thursday, April 3rd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Thursday, April 3rd. Campbell Soup’s payout ratio is 90.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Stephens reissued an “overweight” rating on shares of Campbell Soup in a research note on Wednesday, December 4th. Bank of America decreased their price objective on shares of Campbell Soup from $45.00 to $41.00 and set an “underperform” rating for the company in a report on Thursday, March 6th. Royal Bank of Canada cut their target price on shares of Campbell Soup from $51.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 6th. JPMorgan Chase & Co. downgraded shares of Campbell Soup from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $48.00 to $37.00 in a research note on Thursday, March 6th. Finally, Stifel Nicolaus cut their price objective on Campbell Soup from $47.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.86.

Campbell Soup Profile

Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.